BTC/USD okcoin.com exchange has flatlined

[Eamorr]

I've never seen it so dead.

No price movement. No volume. Nothing.

What is going on?

1 minute candlesticks:


3 minute candlesticks:


And what is this all about:
http://www.reddit.com/r/BitcoinMarkets/comments/2s3481/warning_okcoin_litecoin_sells_currently_not/

It's 06:00 in China. If it's still like this in an hour (i.e. at 07:00), I'm tranferring out of okcoin for a couple days.

Why is it so dead???

[okthen]

Seems like it's gotten out of the flatness a bit.
But yeah, it's weird. Bot?
Anyway, good call on taking your coins/fiat of there. Better keep them off any exchange!

[NotHatinJustTrollin]

[Eamorr]

I'm out.

Absolutely nothing happening. Took a while to get out with maker-taker, but I'm out now.

[Mieehayii]

trading exchange is a market, not a casino, I feel it's normal


btw, okcoin is a slaughterhouse??

[poncho32]

It was strange, from 16:00 to 04:00 there was almost no volume. Since then things have picked up, but I cannot work out why it was flatlining for so long.

[r0ach]

It seems China has discovered a new commodity:

[Q7]

Without getting a confirmation or a signal on the direction of bitcoin price movement, people are just hesitant and would rather stay on the sideline.

[Eamorr]

It's not as flat today (I had a good sleep last night after staying up till about 1:30 waiting for China to "wake up" - they never did), but there's still nothing happening.

Here's the latest:
   { buy: '267.97',
     24-hour-high: '275.99',
     last: '267.97',
     24-hour-low: '261.42',
     sell: '268.01',
     vol: '11671.4982' }

A high of 275.99 and a low of 261.42 = no movement.

Volume of 11671.49??? Are they taking the pi$$???

You'd get more movement on the gold markets.

OK, the market is flat. I can accept that. But the volume figure looks completely made up.

[Eamorr]

Without getting a confirmation or a signal on the direction of bitcoin price movement, people are just hesitant and would rather stay on the sideline.

Why is the exchange reporting such a crazy high volume then?

[inca]

OK, the market is flat. I can accept that. But the volume figure looks completely made up.

It is pretty common knowledge on here that Chinese exchanges with no fee trading have meaningless volume which is easily faked.

High volume attracts clients. Is it any surprise that volume on Chinese exchanges is manipulated higher?

[Eamorr]

OK, the market is flat. I can accept that. But the volume figure looks completely made up.

It is pretty common knowledge on here that Chinese exchanges with no fee trading have meaningless volume which is easily faked.

Great. 

[poncho32]

While OKcoin was flatlining their price was way lower than everywhere else. It's strange arbitrage bots did not take advantage and even out the prices between all exchangs. The price fell on all the other exchanges but none of them went anywhere near as low as OKcoin.

[Eamorr]

While OKcoin was flatlining their price was way lower than everywhere else. It's strange arbitrage bots did not take advantage and even out the prices between all exchangs. The price fell on all the other exchanges but none of them went anywhere near as low as OKcoin.

I just assumed it was an inaccurate USD exchange rate.

I get my USD/CNY feed from http://rate-exchange.appspot.com/currency?from=CNY&to=USD